State Board of Administration of Florida Retirement System Sells 7,206 Shares of Hawaiian Electric Industries, Inc. (NYSE:HE)

State Board of Administration of Florida Retirement System lessened its stake in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) by 4.5% in the 3rd quarter, Holdings Channel reports. The firm owned 153,798 shares of the utilities provider’s stock after selling 7,206 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Hawaiian Electric Industries were worth $6,280,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. purchased a new stake in shares of Hawaiian Electric Industries during the 2nd quarter valued at about $29,000. First National Bank of South Miami purchased a new stake in shares of Hawaiian Electric Industries during the 3rd quarter valued at about $35,000. Dark Forest Capital Management LP purchased a new stake in shares of Hawaiian Electric Industries during the 2nd quarter valued at about $46,000. Advisory Services Network LLC purchased a new stake in shares of Hawaiian Electric Industries during the 2nd quarter valued at about $50,000. Finally, Tompkins Financial Corp purchased a new stake in shares of Hawaiian Electric Industries during the 3rd quarter valued at about $57,000. 52.61% of the stock is owned by institutional investors and hedge funds.

Hawaiian Electric Industries stock opened at $42.08 on Friday. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.07 and a quick ratio of 0.07. Hawaiian Electric Industries, Inc. has a 1-year low of $32.96 and a 1-year high of $45.97. The firm has a market capitalization of $4.60 billion, a P/E ratio of 19.04, a price-to-earnings-growth ratio of 2.58 and a beta of 0.28. The company’s 50-day moving average is $40.63 and its 200 day moving average is $41.77.

Hawaiian Electric Industries (NYSE:HE) last posted its quarterly earnings data on Friday, November 5th. The utilities provider reported $0.58 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.59 by ($0.01). The firm had revenue of $756.90 million during the quarter. Hawaiian Electric Industries had a return on equity of 10.37% and a net margin of 8.93%. During the same quarter in the prior year, the business earned $0.59 earnings per share. Research analysts anticipate that Hawaiian Electric Industries, Inc. will post 2.2 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, December 10th. Stockholders of record on Tuesday, November 23rd were given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date of this dividend was Monday, November 22nd. Hawaiian Electric Industries’s dividend payout ratio (DPR) is presently 61.54%.

In other news, CEO Constance H. Lau sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 14th. The shares were sold at an average price of $41.53, for a total transaction of $166,120.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 3.83% of the company’s stock.

Separately, Zacks Investment Research upgraded shares of Hawaiian Electric Industries from a “sell” rating to a “hold” rating and set a $42.00 target price on the stock in a research report on Wednesday, December 8th. Two analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $38.60.

About Hawaiian Electric Industries

Hawaiian Electric Industries, Inc is a holding company, which engages in power, financial, and renewable and sustainable infrastructure investment businesses. It operates through the following segments: Electric Utility, Bank, and Other. The Electric Utility segment offers essential electric service in the islands of Oahu, Hawaii, and Maui, Lanai, and Molokai.

Further Reading: What is Considered a Good Return on Equity (ROE)?

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Institutional Ownership by Quarter for Hawaiian Electric Industries (NYSE:HE)

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